Bengaluru-based IT major Infosys steps up its campus hiring to 35,000 in FY22, up from 26,000 the company initially shared last quarter, at the back of increasing demand.
Speaking to media persons announcing the company's first quarter results in FY22, UB Pravin Rao, Chief Operating Officer, Infosys, said, “As the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge. We plan to meet this demand by expanding our hiring program of college graduates for FY 22 to around 35,000 globally.”
Attrition rate increased to 13.9 percent in the quarter ending June 30, 2021, up from 10.9 percent for last quarter.
“We rolled out several intense employee engagement initiatives including career acceleration opportunities, compensation reviews and learning and development interventions. Our clients continue to be supportive of the multiple initiatives we have undertaken; they value the delivery commitments we have met even during these extraordinary times,” he added.
The company had hired 21,000 in FY21. The company has made a net hiring of 8000 in the quarter ending June 2021 taking the total employee count to 2.67 lakh.
Infosys reported $3782 million, up 16.9 percent in constant currency, up from $3121 million for the same quarter last year. The company has also upped its guidance to 14-16 percent from 12-14 percent in the quarter ending March 2021.
The step up in hiring comes at the back of increased demand the company is witnessing. The company signed $2.6 billion in large deal wins. The company has already recruited 10,000 in the last quarter. However the attrition is a concern and the company is working to address it.
There is a lot of focus on retention and employee engagement initiatives and career progression initiative the company has taken including increased promotions and also second round of salary hikes in 2021 that was rolled out in July.
According to Rao the situation is likely to continue for the next couple of quarters till supply catches up.
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